iShares U.S. Technology ETF (NYSEARCA:IYW) Sees Large Decline in Short Interest

iShares U.S. Technology ETF (NYSEARCA:IYW) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 477,601 shares, a decline of 46.1% from the August 31st total of 886,319 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 508,098 shares, the short-interest ratio is presently 0.9 days.

iShares U.S. Technology ETF Price Performance

NYSEARCA:IYW traded up $1.93 during trading hours on Thursday, reaching $266.83. 586,856 shares of the company were exchanged, compared to its average volume of 1,093,291. The business has a 50 day moving average of $251.02 and a 200 day moving average of $234.87. iShares U.S. Technology ETF has a 1-year low of $172.54 and a 1-year high of $267.67. The company has a market capitalization of $26.82 billion, a P/E ratio of 34.95 and a beta of 1.36.

Institutional Trading of iShares U.S. Technology ETF

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in iShares U.S. Technology ETF by 34.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,033,291 shares of the exchange traded fund’s stock worth $805,368,000 after purchasing an additional 1,031,871 shares during the period. Goodman Advisory Group LLC bought a new position in iShares U.S. Technology ETF in the 1st quarter valued at about $510,000. Allen Investment Management LLC increased its holdings in iShares U.S. Technology ETF by 94.1% in the 4th quarter. Allen Investment Management LLC now owns 10,606 shares of the exchange traded fund’s stock valued at $2,118,000 after buying an additional 5,142 shares during the period. CrossGen Wealth LLC acquired a new position in shares of iShares U.S. Technology ETF in the 4th quarter valued at approximately $880,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of iShares U.S. Technology ETF during the 2nd quarter worth approximately $200,579,000. 57.65% of the stock is owned by institutional investors and hedge funds.

About iShares U.S. Technology ETF

iShares U.S. Technology ETF, formerly iShares Dow Jones U.S. Technology Sector Index Fund (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology sector of the United States equity market, and includes companies in the industry groups, such as software and computer services and technology hardware and equipment.